Norway: Market for Rusks, Toasted Bread and Similar Toasted Products 2023

Market Size for Rusks, Toasted Bread and Similar Toasted Products in Norway

In 2021, the Norwegian rusks and toasted bread market increased by 42% to $X, rising for the second consecutive year after six years of decline. Overall, consumption, however, saw a deep setback. Rusks and toasted bread consumption peaked at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Production of Rusks, Toasted Bread and Similar Toasted Products in Norway

In value terms, rusks and toasted bread production stood at $X in 2021 estimated in export price. Overall, production showed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of 454% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2021, production growth failed to regain momentum.

Exports of Rusks, Toasted Bread and Similar Toasted Products

Exports from Norway

In 2021, shipments abroad of rusks, toasted bread and similar toasted products decreased by -48.4% to X tons for the first time since 2018, thus ending a two-year rising trend. Overall, exports, however, posted a resilient expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 7,440% against the previous year. Over the period under review, the exports hit record highs at X tons in 2020, and then contracted sharply in the following year.

In value terms, rusks and toasted bread exports declined rapidly to $X in 2021. Over the period under review, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 7,550% against the previous year. The exports peaked at $X in 2020, and then dropped rapidly in the following year.

Exports by Country

Sweden (X tons) was the main destination for rusks and toasted bread exports from Norway, with a 99% share of total exports. It was followed by Denmark (X kg), with a 0.2% share of total exports.

From 2012 to 2021, the average annual growth rate of volume to Sweden amounted to +22.2%.

In value terms, Sweden ($X) remains the key foreign market for rusks, toasted bread and similar toasted products exports from Norway, comprising 99% of total exports. The second position in the ranking was held by Denmark ($X), with a 0.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Sweden totaled +25.4%.

Export Prices by Country

In 2021, the average rusks and toasted bread export price amounted to $X per ton, with an increase of 13% against the previous year. Overall, export price indicated notable growth from 2012 to 2021: its price increased at an average annual rate of +4.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, rusks and toasted bread export price decreased by -13.3% against 2018 indices. The most prominent rate of growth was recorded in 2015 an increase of 32% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2018; however, from 2019 to 2021, the export prices failed to regain momentum.

Average prices varied noticeably for the major export markets. In 2021, amid the top suppliers, the country with the highest price was Sweden ($X per ton), while the average price for exports to Denmark totaled $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Denmark (+6.6%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Rusks, Toasted Bread and Similar Toasted Products

Imports into Norway

In 2021, purchases abroad of rusks, toasted bread and similar toasted products increased by 0.4% to X tons, rising for the fourth year in a row after two years of decline. The total import volume increased at an average annual rate of +2.2% over the period from 2012 to 2021; the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 14%. Over the period under review, imports reached the peak figure in 2021 and are expected to retain growth in the immediate term.

In value terms, rusks and toasted bread imports expanded remarkably to $X in 2021. The total import value increased at an average annual rate of +2.9% from 2012 to 2021; the trend pattern remained relatively stable, with only minor fluctuations in certain years. The growth pace was the most rapid in 2013 with an increase of 18%. Over the period under review, imports attained the peak figure in 2021 and are expected to retain growth in the immediate term.

Imports by Country

Sweden (X tons), Germany (X tons) and the UK (X tons) were the main suppliers of rusks and toasted bread imports to Norway, with a combined 64% share of total imports. These countries were followed by Denmark, Lithuania, China, Italy, the United States and Poland, which together accounted for a further 29%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Lithuania (with a CAGR of +206.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Sweden ($X), the UK ($X) and Italy ($X) were the largest rusks and toasted bread suppliers to Norway, together accounting for 58% of total imports. These countries were followed by Denmark, the United States, Germany, Lithuania, China and Poland, which together accounted for a further 31%.

In terms of the main suppliers, Lithuania, with a CAGR of +161.9%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average rusks and toasted bread import price amounted to $X per ton, increasing by 6.8% against the previous year. In general, the import price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 20%. The import price peaked at $X per ton in 2014; however, from 2015 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Italy ($X per ton), while the price for Germany ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Poland (+2.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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